Habib Metropolitan Bank posted a profit-before tax of Rs 7.6 billion for the first half of 2015, registering a year-on-year profitability boost of 147 percent. The Bank achieved broad-based organic growth, with its low cost resource mobilisation, shift in asset profile and timely realisation of capital gains. The Bank's profit-after-tax amounted to Rs 4.43 billion on June 30, 2015. Resultantly, HabibMetro's EPS increased by 110 percent and marked at Rs 4.23 at the end of June 2015.
In a Board meeting held on August 21, 2015, HabibMetro Bank's Board of Directors declared 20 percent interim cash dividend for the half year 2015. The Bank's net margin posted a significant increase of 32.5 percent from June 2014 demonstrating a positive shift in asset profile, while its fee income and exchange earnings both increased considerably by 21.6 percent and 38.2 percent, respectively. Even without the extraordinary capital gain, the Bank posted a noteworthy profit-before tax of Rs 4.2 billion, an increase of 38 percent from June 2014.
HabibMetro Bank's total assets augmented by 14.4 percent compared to December 2014, and in doing so amounted to Rs 454.7 billion on June 30, 2015. Meanwhile, the Bank's deposit base exhibited an increase of 14 percent - a growth that surpassed the industry's deposit growth curve- andexceeded Rs 360 billion. The Bank's branch network currently comprises 249 branches across Pakistan. HabibMetro aims to increase its national footprint further in the second half of 2015.
The Pakistan Credit Rating Agency (PACRA), recognised as an external credit assessment institution by the SBP, endorsed HabibMetro Bank's premium credit ratings of AA+ and A1+ credit ratings for the 15thconsecutive year, in 2015. HabibMetro Bank is a subsidiary of Habib Bank AG Zurich, a multi-national banking group that enjoys a financial presence in 10 countries across 4 continents. Going forward in 2015, HabibMetro Bank aims to continue its impressive growth through mobilisation of low cost deposits, enhancement of fee income, amplification of cost efficiency and continuous improvement in customer service.-PR
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